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The US Census Bureau said yesterday that the average American family got poorer over the past decade, as the percentage of people living in poverty in this country hit “15.1%, the highest level since 1993, and 2.6 million more people moved into poverty, the most since Census began keeping track in 1959,” according to the USA Today story.

“The poor, the young and minorities had the biggest income drops last year,” the story says. “Median income for black households fell 3.2% to $32,068, while non-Hispanic white income fell 1.3% to $54,620, a decline that wasn't statistically significant.”

In addition, 22 percent of all children in the US were living below the poverty line, up from 20.7 percent in 2009.

The poverty line in 2010 for a family of four was $22,113.
KC's View:
Strikes me that the poverty line seems awfully low ... and that in a lot of area sin this country, 22 grand is probably barely subsistence level. Wonder how high the numbers would be if the poverty line were drawn at 30 grand, or 35 grand, for a family of four.

Yet more evidence of the so-called “Consumer Hourglass Theory,” as the chasm between haves and have-nots grows...